Last April, Ola crossed 50% market share in the Indian electric two-wheeler market. Ola, India’s leading electric scooter manufacturer, sells electric scooters in India at various prices and with various features. In this case, according to the information given on Vahan (VAHAN) website, it sold 34,000 electric scooters last April alone and captured 52% of the market share.
The company has now sold 54% more electric scooters compared to April last year. Currently, Ola is selling three types of electric scooters in India namely S1 Pro, S1 Air and S1 X.
Earlier, more subsidies were given under the FAME scheme to encourage consumers to buy electric vehicles as an alternative to fuel vehicles. But due to irregularities by the electric vehicle vendors, the subsidy given under the scheme was reduced.
As a result, the sales of electric vehicles are expected to decrease, but now Ola has sold more electric scooters than last year. But overall, electric two-wheeler sales have declined by 52% compared to last March.
While 1,36,000 electric two-wheelers were sold in India last March, only 64,000 vehicles were sold last month. Following Ola, Bajaj’s electric two-wheeler sales grew 84% year-on-year to 7,515.
However, sales of electric scooter makers TVS Motors and Aether Energy have declined by 13% and 48% respectively compared to last year. Reduced subsidy under the FAME scheme is also attributed to the fall in sales.
